Sec. 8. Alternative procedures during quorum lapse
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Section 3(c)(6) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635a(c)(6) ) is amended— by inserting
(A)after
(6); and by adding at the end the following: If there is an insufficient number of directors to constitute a quorum under subparagraph
(A)for 90 consecutive days during the term of a President of the United States, a temporary Board, consisting of the following members, shall act in the stead of the Board of Directors: The United States Trade Representative, The Secretary of the Treasury, The Secretary of Commerce, and The members of the Board of Directors. If, at a meeting of the temporary Board— a member referred to in clause (i)(IV) is present, the meeting shall be chaired by such a member, consistent with Agency bylaws; or no such member is present, the meeting shall be chaired by the United States Trade Representative. A member described in subclause (I), (II), or
(III)of clause
(i)may delegate the authority of the member to vote on whether to authorize a transaction, whose value does not exceed $100,000,000, to— if the member is the United States Trade Representative, the Deputy United States Trade Representative; or if the member is referred to in such subclause
(II)or (III), the Deputy Secretary of the department referred to in the subclause. If the temporary Board consists of members of only 1 political party, the President of the United States shall, to the extent practicable, appoint to the temporary Board a qualified member of a different political party who occupies a position requiring nomination by the President, by and with the consent of the Senate. The temporary board may not change or amend Agency policies, procedures, bylaws, or guidelines. The temporary Board shall expire at the end of the term of the President of the United States in office at the time the temporary Board was constituted or upon restoration of a quorum of the Board of Directors as defined in subparagraph (A). With respect to a transaction that equals or exceeds $100,000,000, the Chairperson of the temporary Board shall ensure that the Agency complies with section 2(b)(3). . The amendments made by subsection
(a)shall have no force or effect after the 10-year period that begins with the date of the enactment of this Act.
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Sec. 8
Alternative procedures during quorum lapse
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